Merchants Bancorp (NASDAQ:MBIN) Hits New 1-Year High – What’s Next?

Merchants Bancorp (NASDAQ:MBIN) reached a new 52-week high during trading on Monday . The company traded as high as $57.65 and last traded at $52.4060, with a volume of 183 shares changing hands. The stock had previously closed at $52.07.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MBIN shares. Morgan Stanley set a $65.00 price target on shares of Merchants Bancorp and gave the stock an “equal weight” rating in a research report on Tuesday, September 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target on shares of Merchants Bancorp in a report on Wednesday, July 29th. Finally, Raymond James Financial cut Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Merchants Bancorp Stock Up 0.3%

The company’s 50 day moving average price is $52.50 and its 200 day moving average price is $48.50. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 10.56 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%.The firm had revenue of $182.22 million for the quarter, compared to analyst estimates of $179.00 million. As a group, research analysts forecast that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. Merchants Bancorp’s payout ratio is presently 8.84%.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Julia Kaercher sold 9,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $55.20, for a total transaction of $496,800.00. Following the sale, the director directly owned 727,103 shares of the company’s stock, valued at $40,136,085.60. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

A number of hedge funds have recently bought and sold shares of MBIN. NBH Bank purchased a new stake in shares of Merchants Bancorp in the second quarter valued at approximately $113,000. Gamco Investors INC. ET AL purchased a new position in shares of Merchants Bancorp during the 1st quarter valued at approximately $215,000. Fifth Third Bancorp purchased a new position in shares of Merchants Bancorp during the 1st quarter valued at approximately $270,000. Oregon Public Employees Retirement Fund acquired a new stake in Merchants Bancorp in the 1st quarter valued at $287,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Merchants Bancorp in the 1st quarter valued at $312,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Founded in 2007, the company operates primarily through Merchants Bank of Indiana and provides specialized banking and finance services to commercial and institutional customers across the United States.

The company’s principal activities include multifamily mortgage banking, healthcare real estate finance and mortgage warehouse lending. Its multifamily business provides financing for apartment properties, including government-supported and conventional transactions.